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Wednesday, January 19, 2022

Here is the Math for Medical Marijuana Inc (OTCMKTS:MJNA)

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The story of Medical Marijuana Inc (OTCMKTS:MJNA) can be well summed up by a simple review of its extraordinary financial claims, its unwillingness to produce audited financial data or uplist to an exchange tier that necessitates any degree of transparency in financial disclosures, and the abject and inarguable disparity between these claims and how its share price has actually performed over time – consistently worse than just about any other stock in the same market space.

Quite frankly, there is a message there. But the stock has been crushed over the past year, shedding nearly 60% of its value in that time in a slow burn, so a bounce isn’t impossible. In addition, it just announced that it had its the largest-ever (unaudited) sales bookings month in its history in April 2019.

Medical Marijuana Inc (OTCMKTS:MJNA) casts itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.

MJNA’s subsidiary, Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products

MJNA licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.

In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products, sportswear and more.”

According to company materials, “Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.”

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As noted above, MJNA just announced that it had its the largest-ever (unaudited) sales bookings month in its history in April 2019.

Traders will note 13% during the past week in terms of shareholder gains in the name, but that move comes in the context of a larger bearish trend. What’s more, the company has seen interest climb, with an increase in recent trading volume of 12%.

“We are proud to announce our impressive growth in April,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “It was just announced by analysts at The Green Fund that the global cannabis industry is positioned to be the world’s most lucrative sector and we’re excited to be at the forefront of cannabidiol (CBD) as a segment of this profitable business.”

At this time, carrying a capital value in the market of $196.43M, MJNA has a significant war chest ($5.4M) of cash on the books, which must be weighed relative to about $7.5M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA claims to be pulling in trailing 12-month revenues of $59.8M (unaudited). In addition, the company claims to be seeing major top-line growth, with y/y quarterly revenues growing at 87.4% – but this must also be taken with a big fat grain of salt given the lack of an audited paper trail and the company’s well-worn path as a questionable story on the street, as well as the clear and unmistakable failure of its shares to perform in a manner remotely consonant with its financial claims. Sign-up for continuing coverage on shares of $MJNA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $MJNA, either long or short, and we have not been compensated for this article.

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